I’d sign the lease. We have some time before the glut of rentals (if it occurs) is going to affect the type of housing that you are living in (single-family, nice neighborhood, decent public schools, etc).
The condo market always declines first. It will be hit particularly hard because of the excessive building downtown. Watch rental prices for condos as a leading indicator.
If rents do drop significantly during your lease term you can renegotiate or pay the penalty to break the lease. A smart landlord is going to keep a good tenant.
